Core Property has reviewed the Vesta Medical Property Fund, a new unlisted property fund managed by Vesta Capital Management Pty Ltd*. Vesta was established in 2023 as a boutique real estate manager with a focus on delivering risk adjusted returns for investors.
The Fund is a registered managed investment scheme that seeks to invest in a portfolio of three medical centres in WA. The medical centres are leased to long term healthcare tenants which include GP clinics and other allied health services such as pathology, physiotherapy, radiology and pharmacies.
The Manager is targeting the Fund to deliver distributions of 8.20% p.a. in FY25 (pro rata) and 8.23% p.a. in FY26, with average 6-year distributions of 8.50% p.a. The distributions are reliant on regular income received from the medical centres during the term of the Fund.
The RE is seeking to raise up to $20M through the issue of 20M units at $1.00 per unit. The Offer has a minimum subscription of $20,000 and has a close date of 18 March 2025.
Core Property has rated the Fund as RECOMMENDED.
* Vesta Capital Management Pty Ltd is the Manager of the Fund. The Responsible Entity of the Fund is Macro Capital Limited.